When should I start thinking about a Succession Plan for my business?

January 30, 2020 •

Download the episode on Spotify here / Apple here / YouTube here. 

Josh & Jay welcome Will Steih, Managing Director or Prime Capital Investment Advisor’s Tennessee office, to the studio for Chapter 1 of 5 in our Business Owner Strategies & Solutions (B.O.S.S.) Series, a discussion about Succession Planning. What does a properly structured Succession Plan look like? How does a business owner insure that the business will survive after they retire, either through a generational or key person transfer or an outright sale? Listen in to hear important concepts & solutions to consider!

 

Key Takeaways:

  • The best time to consider a Succession Plan is NOW. Life happens fast.
  • An unwritten Succession Plan is just a promise.
  • Succession Plans need to be written and funded.    
  • A well designed Succession Plan is a key element of having a multi-generational business.  

Show Links: 

https://v0y.3de.mytemp.website/ 

https://v0y.3de.mytemp.website/401k-forum

https://pciawealth.com/ 

https://qualifiedplanadvisors.com/ 

https://fitrusts.com/ 

https://everydollarcounts.libsyn.com/ 

http://jaystubbs.com/

https://www.firstprotective.com/

https://www.deepfriedstudios.com/

https://www.slothracerband.com/  

Resources:

Gulf Coast Financial Advisors

Prime Capital Investment Advisors 

Qualified Plan Advisors 

Financial Fitness for Life

First Protective 

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Gulf Coast Financial Advisors, LLC ("GCFA") is a registered investment adviser offering advisory services in the State of Alabama and in such other jurisdictions where it is registered, filed the required notices, or is otherwise excluded or exempted from such registration and/or notice filing requirements. Registration does not indicate or imply that GCFA has attained a particular level of skill or ability nor does it constitute an endorsement of the firm by the Securities and Exchange Commission (SEC) or any state securities regulator.